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FL S0298
Bill
AI Summary
- Amends Section 196.1975, Florida Statutes, to expand eligibility for the ad valorem tax exemption for nonprofit homes for the aged
- Allows a Florida limited partnership whose sole general partner is an entity wholly owned by a corporation not for profit under chapter 617—and not licensed under chapter 429 (assisted living facilities)—to qualify for the exemption
- Previously, eligibility was limited to corporations not for profit under chapter 617 or Florida limited partnerships whose sole general partner was such a corporation
- The qualifying corporation not for profit must have been exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code as of January 1 of the year for which the exemption is requested
- Effective date is January 1, 2026
Legislative Description
Ad Valorem Tax Exemption for Nonprofit Homes for the Aged
Last Action
Died in Community Affairs
6/16/2025
Full Bill Text
No bill text available